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"The company is currently considering whether such investment is appropriate," Chief Financial Officer, Santhat Sanguandikul, said in a statement, referring to acquiring shares from the billionaire Jurangkool family, sending Nok Air's share prices up 13 percent.
The company has a market capitalisation of 9.3 billion baht ($297.03 million) and the stock is currently trading at 3.06 baht, its highest since March 2018.
The Jurangkool family, which owns unlisted auto-parts company, Thai Summit and Thai Steel Cable, currently owns 53 percent in Nok Air.
The announcement comes as national carrier, Thai Airways waived its rights to subscribe new shares in Nok Air and dropped holdings to 15.9 percent from 21.8 percent.